Staunton spectator. [volume] (Staunton, Va.) 1849-1896, 1887-05-25

MISLEADING sTATEMENTs-THED DEBT COMMIT
TEE REFUTE CERTAIN STATEMENTS IN THE
Observation-Disclosures CIRCULAR.
Last Thursday night the Legislative Debt
Committee met and agreed upon a report,
which they submitted to the General Assem-.
bly, Friday, in refutation of the misleading
misstatements" which were set forth in the
circular to which were attached the names OF
Sir Edward Thornton and Mr.. 8. N. Braith-
waite. The report is as follows:-
your committee begs leave to say that In
the discharge of its duty in making report
to the Legislature of Virginia of the several
representing tn Council of Foreign Bondhold-
ers, 1t reported the exact language and figures
OF the Commission, in order that no erroneous
impressions would be created thereby; and 1t
was 10th to believe that the statement pub
lished in the morning papers, purporting to
be the complete proposition made to the Leg
1slative Committee by the representatives
of the Council of oreign Bondholdsrs was
made or published with the consent or knowl-
edge OF Sir Edward Thornton and s. N. Braith.
waite, ESQ.,, the accredited agents of that body.
But this committee can no longer doubt that
which 1t was SO unwilling to believe, for 1t has
secured q copy of the circular, which gives on
IL portion of the final proposition rendered
by the representatives Of the Council Of For
na Of the E Ees TO De shs
signed by Sir Edward Thornton and 8. N.
Braithwa1te, over their own sign manual.
pose partial statement of the English bond
holders proposal was published in this morn,
ing's papers and circulated by hand-bills but
we say the staten emit Is misleading and moor
rect-misleading because from 1t could be in
ferred that the only annual revenue required
debt Wond be on
likes the principal Of the debt at the time Of
redemption at Sl7,692. S31. when, in fact. from
In the conference, the principal at the time of
redemption would amount to about 225. 900 600,
lses their reply Of the day of May, 1887. to
est required of the State would be s922. 53S
These differences result from the omission
sioners in their published statenent' ali Rid.
dleberger bonds in the hands of the public and
those held by the Literary Fund. and all out
which amount to 81 ,237, 773.42 exclusive OF the
bonds held By the Commissioners of the Sink
ing Fund, Board of EubIic Works. and tnose
hela by the United States. -
ITO show how inaccurate and misleading
the partial statement Is. in contrast with IL,
we present below the correct result of the final
Here follows table setting forth the condi-
ton of the State debt as presented by the joint
ready been published, only that It'll arranged In
somewhat different shape than as formerly
presented
"Your committee would have unhesitating-
ly accepted such proposition as that suggest
ed in the circular, had 1t represented the whole
debt. and had the commissioners been author
CHARLES g. STUART. Chairmap..'
ENGLISH COMMISSIONERS EXPLAIN THEIR
CIRCULAR.
Sir Edward Thornton andsMr 8. N, Braith.
waite Friday morning sent the following let
ter to Mr.. Charles 5. Stuart. chairman OF the
oint committee Of conference =
RICHMOND, May 20, 1887.
Dear Strive have observed In the public
press report signed by yourself as chairman.
IN which you refer to our circular of IT, 18th
Instant. as "ineorrest and misleading" We
ake'exception to these words. Our circular
is perfectly correct and Ia not misleading. It
is perfectly plain to any one OF most ordi-
nary intelligence that our circular did not In
any way purport to give the figures OF the
whole debt. The whole object of the circular
! as appears plainly from its heading, is to show
what are the sacrifices which the holder of the
consol and 1o-40 debt. whom we primarily rep
resent, were prepared to make, and it is to
them alone the circular refers.
-'-' --~.-s- fntfhf.tf-s
ne are, sIr, .--...aJ.
TSignedl EDWARD THORNTON,
8. N. BRAITHwAITE.
Mr.. Charles e. Stuart.